CG Oncology’s (CGON) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of CG Oncology (NASDAQ:CGON) in a research note issued to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $66.00 price objective on the stock.

CGON has been the topic of several other reports. Bank of America reaffirmed a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. Roth Mkm initiated coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 price objective for the company. Roth Capital raised CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. UBS Group initiated coverage on shares of CG Oncology in a research note on Thursday, October 24th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Friday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $63.88.

CG Oncology Stock Up 3.1 %

NASDAQ:CGON opened at $34.59 on Friday. The firm’s 50 day moving average is $35.78 and its two-hundred day moving average is $34.95. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. On average, analysts forecast that CG Oncology will post -1.31 EPS for the current year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On CG Oncology

Large investors have recently added to or reduced their stakes in the stock. Ally Bridge Group NY LLC lifted its holdings in CG Oncology by 50.5% in the third quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock worth $9,933,000 after purchasing an additional 88,390 shares during the period. Deerfield Management Company L.P. Series C raised its position in shares of CG Oncology by 811.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after buying an additional 386,000 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in shares of CG Oncology in the 2nd quarter worth approximately $1,912,000. SG Americas Securities LLC bought a new position in shares of CG Oncology in the third quarter valued at approximately $664,000. Finally, Bank of New York Mellon Corp increased its stake in shares of CG Oncology by 38.4% during the second quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company’s stock valued at $2,821,000 after acquiring an additional 24,801 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.